Stifel Financial Corp Boosts Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Stifel Financial Corp raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,676 shares of the company's stock after acquiring an additional 4,425 shares during the period. Stifel Financial Corp's holdings in Neurocrine Biosciences were worth $3,095,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC boosted its position in Neurocrine Biosciences by 2.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after buying an additional 87 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of Neurocrine Biosciences by 4.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after purchasing an additional 96 shares during the period. Huntington National Bank raised its holdings in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after acquiring an additional 97 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock worth $3,836,000 after buying an additional 100 shares in the last quarter. Finally, GeoWealth Management LLC boosted its holdings in Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after purchasing an additional 102 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Kyle Gano sold 980 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $118.39, for a total value of $116,022.20. Following the completion of the sale, the chief executive officer now directly owns 137,658 shares of the company's stock, valued at $16,297,330.62. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Julie Cooke sold 700 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $118.28, for a total value of $82,796.00. Following the transaction, the insider now directly owns 18,831 shares in the company, valued at approximately $2,227,330.68. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,907 shares of company stock worth $1,629,982. Insiders own 4.30% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $0.07 during mid-day trading on Monday, hitting $109.75. The company had a trading volume of 1,820,172 shares, compared to its average volume of 1,075,987. The stock's 50 day moving average price is $106.19 and its 200-day moving average price is $121.88. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The company has a market capitalization of $10.86 billion, a P/E ratio of 33.36, a P/E/G ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The firm's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has initiated a stock buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of research analyst reports. StockNews.com cut Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Morgan Stanley reiterated an "overweight" rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research report on Wednesday, March 26th. HC Wainwright reduced their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $160.90.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.